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Chip companies write to Biden! The Biden government of the United States has responded!

by YCPress

Recently, many car companies have fallen into a “chip shortage”. The shortage of chips has even affected the production capacity of many car companies, making them have to reduce production one after another.

In addition to car companies, electronic product manufacturers such as game consoles are also competing for limited chip resources.

On the 11th local time, a number of American chip manufacturers, including Intel, Qualcomm, Micron and AMD, wrote to President Biden, asking the government to provide funds to finance the development of the semiconductor industry.

In response, the White House said that the Biden administration would start to solve the problem of “lack of core”.

On the 11th, several directors of the American Semiconductor Industry Association, including the CEOs of a group of American chip manufacturers, jointly wrote to Biden, calling on the president to put subsidized grants or tax credits for the semiconductor manufacturing industry into the upcoming economic recovery plan.

According to the open letter, the proportion of chips made in the United States has dropped from 37% 30 years ago to 12% today in the global semiconductor chip market.

On the same day, White House Press Secretary Pusaki responded that the Biden administration is working to solve the global chip shortage, will try to find potential obstacles in the chip supply chain, and work with businesses and trading partners to discuss solutions.

It is understood that Biden is expected to sign an executive order in the coming weeks requiring the government to conduct supply chain assessments of key goods in relevant industries.

White House Press Secretary Psaki: The semiconductor shortage is a long-term problem and a historical legacy.

This is the main purpose of the executive order that the president will sign in the next few weeks, which is to be able to conduct a comprehensive assessment of the supply chain of key goods.

After the news came out, last night, U.S. chip stocks collectively boiled.

TSMC rose by nearly 4.1%, and its market value rose by $29.5 billion. 

The semiconductor sector of the U.S. stock market rose sharply, with Nvidia and Intel both rising by more than 3%.

Among semiconductor stocks,

AMKR closed more than 22.0% to a new high of $22.95 since mid-April 2002, and KLA Corp rose more than 9.0% to a record high of $324.48.